Driven Brands, one of the leading franchisors in the automotive aftermarket, has entered into a merger agreement to acquire 1-800-Radiator & A/C, one of the largest franchised automotive parts distributors in North America.
1-800-Radiator & A/C has more than 200 franchisee-owned locations across the U.S. and Canada. The company distributes radiators, condensers, air conditioning parts, fan assemblies and fuel pumps and related parts, with same-day delivery in-stock rates higher than 90 percent across most part categories and 99 percent fill rates on most parts one day away.
“We are excited to welcome 1-800-Radiator to the Driven Brands family,” said Driven Brands CEO Jonathan Fitzpatrick. “1-800-Radiator is well-respected by its customers and franchisees alike – we look forward to leveraging their relationships and further developing synergies amongst our existing family of brands.”
Mike Rippey, co-founder and former CEO of 1-800-Radiator & A/C added, “I am confident that joining Driven Brands will help 1-800-Radiator continue to grow and exceed the expectations of it’s more than 400,000 parts houses, repair and body shops and vendor partners.”
1-800-Radiator & A/C’s founders, Mike and Joe Rippey, will remain on board as advisers. Gabe Mendoza, who served as chief operating officer and chief financial officer for 1-800-Radiator & A/C, will transition into the role of president of the 1-800-Radiator & A/C division of Driven Brands.
“This is a great day for 1-800-Radiator’s family of franchisees,” said Mendoza. “Driven Brands’ ability to develop franchise businesses will allow 1-800-Radiator to enter its next stage of growth as we continue to provide best-in-class service to our customers at the most competitive prices.”
Driven Brands was recently acquired by affiliates of Atlanta-based private equity firm Roark Capital Group. The acquisition of 1-800-Radiator & A/C is the first of many strategic initiatives intended to grow and diversify the company.